My variables in mydata set consists of:

* 35 45 46 48 48 49 49 50 50 52 53 54 55 55 55 55 56 58 59 59 59 59 60 60 60 60 60 61 61 61 62 63 64 64 65 68 68 68 69 69 69 69 69 69 69 70 70 70 70 70 70 71 71 71 72 72 72 73 74 76*

Mean 61.81

Median 61.5

Mode 69

Midrange 55.5

Range 41

Variance 79.64379

Standard Deviation 8.92434

1. Discuss the importance of constructing confidence intervals for the population mean.

What are confidence intervals?

What is a point estimate?

What is the best point estimate for the population mean?

Why do we need confidence intervals?

2. Find the best point estimate of the population mean.